Statistics tell us that businesses run more efficiently when they receive accurate and up-to-date data about their respective markets. For this reason, many B2B companies regard market research as top priority for such ends as revenue optimization and acquisition of high quality leads.
Effective lead generation and appointment setting in this sense is hardly attained without the presence of effective researching. Information gathered through strategies like phone surveys and fill out forms can be leveraged for uncovering the present “pulse” of the market. These activities can also be used to identify what works and what doesn’t in one’s lead generation and appointment setting activities, allowing you to determine the most profitable and efficient actions to take.
However, being able to provide yourself with the needed intelligence to form better decisions requires implementing the best research tools and techniques.
Here are a few of them that might just of help:
- Sample Segmentation
Just like laboratory technicians, marketers have to experiment by using samples segregated into categories based on important demographic data such as revenue, number of employees, and location. This enables the identification of certain groups that respond better towards certain messages than others.
- Social listening
Many B2B buyers are using the internet to scout for specific business solutions. They often interact in forums and other social platforms in order to better understand how their markets work. You too can understand how your target demographic behaves by being where the discussions are and engage them there.
- Focus group
This does not pertain to the typical notion of a focus group. Rather, it points to a special group of people you can always source helpful opinions from. They can be composed of typical buyers or an expert panel that can assess your messaging strategies. Their subjective opinions can lead towards conclusions illustrating actual market conditions.
- Effective metrics
Certain facets of your marketing and sales campaigns should undergo scrutiny. Metrics pertaining to market share, ROI, telemarketing performance and conversions are essential tools detailing the specific conditions your business is going through. They also function to let you focus on critical areas in need of a good boost in order to maximize opportunities.
There are probably hundreds more to harness for effective market research. Oftentimes, you are just not sure which ones to combine and apply in order to paint a more precise description of your market. Thankfully, there are lead generation companies out there that also offer effective research services and answers to questions that leave you bewildered and unsure.